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USDCAD brings weekly resistance back into play
video USDCAD bounced on the 50-day simple moving average (SMA) early on Friday to recoup Thursday’s losses and fight against the weekly resistance of 1.3650. The odds are leaning on the bullish side as the RSI is maintaining an upward trajectory above its 50 neutral mark and the MACD is trying to enter the positive area. Yet some caution is necessary as the stochastic oscillator seems to have already peaked in the overbought region. Should the bulls clear the 1.3650 resistance, the next stop could be near the tentative short-term descending trendline seen around 1.3693. Piercing through this wall, the price could ... (full story)
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- Posted: Apr 28, 2023 7:03am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 673
